tag:blogger.com,1999:blog-6616959642391988608.post2485481887335909241..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: It's Europe, stupidScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6616959642391988608.post-22850206465413831502011-08-14T11:24:22.259-07:002011-08-14T11:24:22.259-07:00Am I crazy to think of deflation as tax break for ...Am I crazy to think of deflation as tax break for the poor? relief for the poor would be welcome surprise of a deflationary to low inflation environment. Im not talking about job creation but affordibilty of lifes needs and demands. we dont want to have a riot on our hands and this might be one way to ensure that; price stability. The fomc has done all they can, its up to our political and acrossthecurvehttps://www.blogger.com/profile/16425254934059527965noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-5443983893046875872011-08-13T11:41:05.258-07:002011-08-13T11:41:05.258-07:00Huntington Hartford:
Maybe so, but Don Boudreaux,...Huntington Hartford:<br /><br />Maybe so, but Don Boudreaux, chairman of the Econ Department at George Mason (if you get any more right-wing that that, you start wearing high boots and jodhpurs) says the CPI overstates inflation. Actually, several other studies have come to the same conclusion.<br /><br />Many say the CPI overstates inflation by about one percent. If true, we have been deflating Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65083935019262539692011-08-13T07:58:55.892-07:002011-08-13T07:58:55.892-07:00The way they calculate CPI isn't intellectuall...The way they calculate CPI isn't intellectually honest. It's a political process. Its usefulness is questionable.Huntington Hartfordhttps://www.blogger.com/profile/06253593320858272112noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-86092805747465813662011-08-13T07:52:11.393-07:002011-08-13T07:52:11.393-07:00Scott, I'm sorry but I don't get it. If th...Scott, I'm sorry but I don't get it. If the total amounts of outstanding debt among the PIIGS is just past $3 Trillion, how do the top 20 European banks own over $4 Trillion of their debt?mmanagedaccountshttps://www.blogger.com/profile/08188469703346980431noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-71071020546447765272011-08-12T20:23:12.971-07:002011-08-12T20:23:12.971-07:00I see no problem with inflation in the five percen...I see no problem with inflation in the five percent range--and indeed in the USA we prospered for 20 years with mild inflation 1980-2000. <br /><br />The problem after that period of moderate inflation was not runaway inflation, but deflation (2008-10).<br /><br />When July CPI figs come out, compare them against July 2008. It is a shocker.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-9368554379892619462011-08-12T19:14:54.598-07:002011-08-12T19:14:54.598-07:00Bill: it sure does look like the surge in M2 was d...Bill: it sure does look like the surge in M2 was due to the rising panic in Europe. And I note that this week it surged yet again. Something like a run on the European banks as everyone tries to avoid the pain of default. I imagine this means the problem is not over (obviously) so we have some rough sledding ahead. But I think we will make it ok.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-76339112358134084602011-08-12T17:47:42.160-07:002011-08-12T17:47:42.160-07:00Scott,
Just catching up on your posts this week a...Scott,<br /><br />Just catching up on your posts this week and want to thank you for putting things in perspective. Do you think your post a few weeks ago regarding the surge in M2 was the warning sign of things to come? Does this suggest that we're in for a bumpy ride for the foreseeable future?Billhttps://www.blogger.com/profile/06910619601367464068noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-46869352483788578222011-08-12T16:22:13.113-07:002011-08-12T16:22:13.113-07:00The way I see it, the Fed has been fighting deflat...The way I see it, the Fed has been fighting deflation for most of the past 10 years. That's because they were fighting inflation too hard in the previous 5 years (1996-2000). Inflation is coming back slowly but surely, led by a huge decline in the dollar and a huge increase in gold, both classical warning signals of impending inflation. <br /><br />I lived in Argentina when economy ministers Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-5578894481639676432011-08-12T14:39:39.737-07:002011-08-12T14:39:39.737-07:00Sometimes, Inflation Is Not Evil
By FLOYD NORRIS
P...Sometimes, Inflation Is Not Evil<br />By FLOYD NORRIS<br />Published: August 11, 2011<br /><br /> <br />Sometimes, you have to unlearn your lessons.<br /><br />Ken Rogoff, the Harvard economist, suggested central bankers consider “the option of trying to achieve some modest deleveraging through moderate inflation of, say, 4 to 6 percent for several years.”<br /><br />Thirty years ago, it became Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com